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February 1, 2025
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How do i indicate that my disbursement from a 402(b) plan was rolled over into an IRA?

  • February 1, 2025
  • 1 reply
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    Best answer by dmertz

    I assume that you mean 403(b) since there is no such thing as a 402(b) plan.

     

    If the rollover was a direct rollover, the plan will report it on a Form 1099-R with code G that you must enter into TurboTax.  After answering No to the questions that ask if it was rolled over to some type of Roth account, TurboTax will treat it as a nontaxable rollover and exclude it from the amount on Form 1040 line 5b with the ROLLOVER notation.

     

    If the rollover was an indirect rollover reported with code 1, 2 or 7 on the Form 1099-R, after entering the form details you must indicate that the distribution was moved to another retirement account and indicate the amount rolled over.

    1 reply

    dmertzAnswer
    Employee
    February 1, 2025

    I assume that you mean 403(b) since there is no such thing as a 402(b) plan.

     

    If the rollover was a direct rollover, the plan will report it on a Form 1099-R with code G that you must enter into TurboTax.  After answering No to the questions that ask if it was rolled over to some type of Roth account, TurboTax will treat it as a nontaxable rollover and exclude it from the amount on Form 1040 line 5b with the ROLLOVER notation.

     

    If the rollover was an indirect rollover reported with code 1, 2 or 7 on the Form 1099-R, after entering the form details you must indicate that the distribution was moved to another retirement account and indicate the amount rolled over.